In the Matter of Reed Constructions Australia Pty Ltd [2012] NSWSC 1045

Supreme Court New South Wales

Medium Neutral Citation: In the Matter of Reed Constructions Australia Pty Ltd [2012] NSWSC 1045 Hearing dates: 9 July 2012 Decision date: 09 July 2012 Jurisdiction: Equity Division - Corporations List Before: Brereton J Decision: Adjournment refused; Defendant wound up; liquidator appointed Catchwords: CORPORATIONS - external administration - where voluntary administrators appointed after winding-up proceedings instituted - circumstances in which a court should not order a winding up because an administrator has been appointed - whether in interest of company's creditors that administration continue - adjournment - Corporations Act 2001, s 440A(2) - grounds for adjournment - proposal for Deed of Company Arrangement Legislation Cited: (Cth) Corporations Act 2001, s 436A, s 440A(2), s 467(1), s 439A Cases Cited: Creevey v Deputy Commissioner of Taxation (1996) 19 ACSR 456 DCT v Bradley Keeling Management Pty Ltd [2003] NSWSC 47 Category: Principal judgment Parties: SCE Resources Pty Ltd ACN 003 833 270 (Substituted Plaintiff) Reed Constructions Australia Pty Limited ACN 003 340 878 (Defendant) Representation: Counsel: D M Crompton (Solicitor) (Plaintiff) P Dowdy (Defendant) Solicitors: Church & Grace (Plaintiff) HWL Ebsworth (Defendant) File Number(s): 2012/ 146820

Judgment (ex tempore) 1HIS HONOUR: By originating process filed on 8 May 2012 the original plaintiff BCI Nominees Pty Ltd (BCI) claimed orders that the defendant Reed Constructions Pty Ltd be wound up in insolvency and that a liquidator be appointed. On 29 June 2012, by consent, SCE Resources Pty Ltd (SCE) was substituted as plaintiff. In the meantime, on 15 June 2012, Ryan Reginald Eagle and John Melluish, who are official liquidators, were appointed voluntary administrators of the defendant pursuant to (Cth) Corporations Act 2001 (Corporations Act), s 436A. There is no question before me as to the validity of that appointment. The administrators convened a first meeting of creditors, which was held on 27 June 2012.